Do wholesalers benefit from having a RE Agent's license?

[Nancy Bachety]

Wondering if that is worthwhile to get, if we're buying foreclosures or flips. We're in NY if that matters but are investing out-of-state too.

Thanks. 

[Russell Brazil]

The laws vary so much from state to state.  There are states where I think it is imperative that you have a license to wholesale. This seems to be the case in Florida as @John Thedford often comments on. It also seems to be the case largely in Ohio. In Maryland, DC and Virginia where I primarily operate I actually think wholesalers should NOT have a license. I think having one you very easily run into Net Listing issues, and Net Listings are illegal in those states. Also in DC and MD a licensed agents first duty by law is to the public and to protect the public's interest. So that creates some very real problems when you need to be very clear with them about how much their property is worth and how much you will move it for. I think @Ned Carey and myself are in the minority in thinking that having a license and wholesaling is riskier than doing it with a license.

But again every state is different, and the level of enforcement in every state is different. You just have to find out what is legal in the states you are working in, what is enforced and to what extent etc.